Sectors

Banking

Delivering innovative banking services in a stable jurisdiction, Jersey has been attracting deposits and investments from institutions and private clients across the world for decades.

Jersey Finance

Overview Latest
£122.8 billion

in deposits

26 banking licences

including over a third of the top 25 banks

13,280 finance professionals

working in our international finance centre

In brief Our flexible and forward-thinking regulatory approach has been designed to attract high-quality banking businesses to the Island.

Because the industry is always changing, we’re always on hand to cater for niche and digital banking providers, as well as traditional institutions – working with some of the biggest names in the world.

Key Facts

Here are some of the reasons we’re one of the world’s preferred banking partners:

  • Our banking model is diversified and doesn’t rely on wholesale funding, meaning that money from other countries doesn’t go into the Jersey economy but instead goes to major banks in London, Paris, Frankfurt and other leading centres. This is why Jersey has received an AA-credit rating from Standard & Poors
  • Jersey represents an extension of the City of London for corporate treasurers, institutional bankers and treasury specialists, fund promoters, brokers and other corporate financiers
  • Jersey is home to global banking organisations from the UK, Europe, North America, South Africa, Asia, and the Middle East
  • Jersey’s banking sector has been able to provide services to support the fast-growing alternative investment funds industry, in particular the real estate, private equity and hedge fund markets
  • We provide an extensive range of services, including multi-currency banking, offshore mortgages, investment solutions and more
  • Jersey’s banking sector holds an average Tier 1 Capital ratio that’s 50% higher than Basel III requirements
  • There are more than 20 bank branches and subsidiaries located in Jersey and they include nearly half of the top 25 banks in the world, by Tier 1 Capital
Why Jersey?
Future of Banking Future of Banking

Launched in 2016, the Future of Banking Review was created to analyse the challenges faced by the Jersey banking sector and outline strategic objectives to safeguard the future. The report analysed a wide range of challenges, from regulatory developments to disruptive technologies, and identified three vital areas:

  • Banking groups consolidating operations across IFCs, with a focus on cost-cutting, quality and increased regulatory costs
  • Digitisation of services, which are putting pressure on banks’ offshore operations
  • The de-leveraging of the global banking system, which is restricting the profitability and growth of Jersey’s banks

From these challenges, we’ve developed a positive action plan that involves working with our stakeholders, Digital Jersey and the whole financial services industry. Together, we’ll focus on three clear objectives:

  1. Make certain that Jersey emerges as a leader from the consolidation of banks
  2. Run new banking activities to increase the value in our banks’ deposit books
  3. Work with digitisation and innovation to help us maintain employment and competitiveness in the future

For banks or advisors interested in exploring the opportunities in Jersey, please get in contact with richard.nunn@jerseyfinance.je.

Markets served by this sector
Economic Substance

Jersey Industry News, Our News

17 April 2019
Video: Jersey for SRI

Video

9 April 2019
Jersey Finance Future Connect – Network Like A Host

Location: Jersey Maritime Museum

16/05/2019
Global and Digital Ambitions

CEO Blog

26 February 2019
Economic Substance

Jersey Industry News, Our News

17 April 2019
Video: Jersey for SRI

Video

9 April 2019
Jersey Finance Future Connect – Network Like A Host

Location: Jersey Maritime Museum

16/05/2019
Global and Digital Ambitions

CEO Blog

26 February 2019